Recurrent Energy, a subsidiary of Canadian Solar (CSIQ) and a global developer and owner of solar and energy storage assets, announced this week that it has secured $160M in project financing for its 127 MWdc Bayou Galion Solar project, located in Morehouse Parish in Northeast Louisiana. The project is currently under construction and is expected to be operational by fall 2024. Microsoft (MSFT) will purchase 100% of the energy and renewable energy credits produced by Bayou Galion Solar to support its goal to be carbon negative by 2030. The project will significantly expand the amount of renewable energy capacity installed in Louisiana. At the end of September 2023, Louisiana had 145 MW of operating wind, solar, and energy storage capacity. Mitsubishi UFJ Financial Group acted as Coordinating Lead Arranger for the financing.
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